December 26, 2023 – Kyle Danielson and Jason Woods of Horvath & Tremblay have successfully completed the sale of an AutoZone in Newark, Delaware. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $1,263,000.
AutoZone is located at 2675 Pulaski Highway in Newark, Delaware. The new construction AutoZone has a 15-year Absolute NNN Ground Lease with four (4), 5-year renewal options. The lease features attractive 7.5% rent increases beginning in year 11 of the primary lease term and at the start of each renewal option. The Property is part of LaGrange, a new construction retail development that is located at the signalized intersection of Biddle Avenue and Pulaski Highway, the area’s primary commercial and commuter corridor. The Property benefits from outstanding visibility and frontage and is surrounded by densely populated residential neighborhoods providing a built-in customer base. AutoZone is seconds from the Home Depot and Safeway anchored People’s Plaza, and is 3.5-miles from Interstate 95.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.